-
Many people in Florida were sure that M&A would pass over the Sunshine State for years after the financial crisis. But a recent influx of deals suggests that Florida hasn't lost its luster.
May 19 -
The state had a dozen deals last year as foreign investors looked to expand, particularly in the Miami area.
January 2 -
One-fourth of bankers surveyed by KPMG expect to become sellers in 2014 as challenges and regulatory scrutiny rise.
November 21 -
Scores of foreign banks with very small U.S. operations still find themselves drafting "living wills" to provide U.S. regulators with a road map to their hypothetical failures, leading to calls for a lighter requirement.
May 20
Espirito Santo Bank in Miami has hired the investment banking firm FIG Partners to market it to prospective buyers.
The $735 million-asset bank's former parent company, Banco Espirito Santo, was
Espirito Santo is now completely independent from Banco Espirito and has its own board members, G. Frederick Reinhardt, the chairman and chief executive of Espirito Santo Bank, said in a press release Monday.
"Our clients will no longer experience an impact upon ESB Miami from BES, and will in fact see continued growth in the coming months as we seek a new owner," Reinhardt said.
Espirito Santo Bank has a "strong franchise value and is profitable," Tom Rudkin, a principal at FIG Partners who is leading Espirito's sale, said in the release. His goal is to find "highly qualified buyers" in a "reasonable time frame."
